Verizon Communications Posts $4.2 Billion Loss After One-Off Costs

USA based Verizon Communications has reported that its fourth quarter revenues rose by 5.7% to reach USD30.05 billion. However the company posted a net loss of USD4.23 billion compared to a loss of USD2 billion a year ago thanks largely to the recently announced pensions provision.

Verizon Wireless reported record-setting customer additions in the quarter,
while Verizon FiOS customer additions were higher in fourth-quarter 2012 than in
the prior two quarters, despite the impact of Superstorm Sandy.

Capital expenditures were $16.2 billion in
2012, including $135 million in companywide
capital related to Superstorm Sandy recovery efforts, and totaled about $70 million less than in 2011.

For Verizon Wireless, the company saw revenues rise by 9.5% to USD20 billion.

Retail postpaid ARPA (average revenue per account) grew 6.6 percent to $146.80 per month. As customers continue to add
multiple devices to accounts following the introduction of the Share Everything
Plan in June, Verizon Wireless now reports ARPA instead of ARPU since customers
can share data among multiple devices.

At the end of 2012, the company had 98.2 million retail customers, a 6.6
percent increase year over year -- including 92.5 million retail postpaid
connections.

At year-end 2012, smartphones accounted for more than 58 percent of the
Verizon Wireless retail postpaid customer phone base, up from 53 percent at the
end of third-quarter 2012.

"Verizon seized growth opportunities in the fourth quarter to cap a year
of solid progress across the entire business," said Lowell
McAdam, Verizon chairman and CEO. "We delivered a total return
of 13.2 percent to shareholders in 2012, and we enter 2013 ready to accelerate
the momentum we've achieved and create significant shareholder value in the
years to come."

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